MENA Outlook: Diversification, AI, and economic integration take centre stage
As the region pivots toward a post-oil future, recent developments across the Middle East and North Africa suggest an accelerating...
Economy
Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...
Business
UNFPA and corporate partners drive reproductive justice in workplaces
World Economic Forum
Economy
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...
- UAE's investments abroad remain strong, hitting $2.5 trillion in early 2024 despite global economic challenges.
- Investments include deals with the US, Egypt, the UK, India, and upcoming focus on Europe for currency stability.
Economy
Saudi Arabia and Bahrain sign road safety, maintenance agreement
Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two...
- The agreement looks to boost expertise exchange and cooperation between Bahrain and Saudi Arabia, focusing on joint efforts in infrastructure development and road safety
- The Bahraini minister noted the strong relations between the two countries, emphasising the keenness to enhancing ties, particularly in infrastructure development
Economy
UAE’s overseas investments surpass $2.5trn mark
Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of...
- United States remained the prime destination, attracting substantial investments in bonds and direct ventures
- Egypt closely follows with significant investments, along with the United Kingdom, India, and Morocco
Economy
IMF chief calls upon China to boost growth with pro-market reforms
BEIJING, CHINA – The head of the International Monetary Fund on Sunday called on China to implement "a comprehensive package of...
- Chinese policymakers have so far resisted calls to juice the economy through massive government stimulus.
- Authorities should boost "the spending power of individuals and families" by beefing up China's pension system, IMF said.
Business
IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
- The fund's primary goal is to promote the development of TradeTech solutions and support the expansion of startups.
- The announcement aligns with Investopia's vision to inspire entrepreneurs to expand into new economic sectors.
Economy
Passenger air traffic has surpassed pre-pandemic levels: ICAO
Montreal, Canada--The International Civil Aviation Organisation (ICAO) projected that passenger air traffic levels will be around 2 percent higher In...
- The aviation arm of the UN said that demand this year is forecast to be around 3 percent above 2019 levels and could reach 4 percent if the pace of recovery strengthens
- According to its analysis, global demand expressed in Freight Tonne-Kilometres (FTK) is forecast to be around 2 percent below 2019 levels for the full year 2024
Economy
Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
- Madrid-based Halo Space Company selects Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per person for a stratospheric Earth view.
- In June, a trial flight will take passengers 32 kilometers above Earth, using a helium balloon for an accessible adventure without the need for special training.
Business
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
- Compared with the same period in 2022, imports decreased both in value (-34.2 percent) and in net mass (-11.7 percent).
- Comparing 2023 with 2022, the value of energy products dropped by 35 percent, while the volume dropped by 9.4 percent.
Economy
Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid
Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
- Unit 4 will add another 1,400 megawatts of clean electricity capacity to power the national grid, representing another significant step forward towards full-fleet operations
- This further supports the UAE’s efforts in enhancing grid stability and energy security through abundant around-the-clock zero-emissions electricity
Economy
Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
- Bayraktar outlined several potential routes for this transportation, including a swap arrangement via Iran or a combination of Iran and Azerbaijan
- He stressed that a primary consideration is the establishment of a pipeline traversing the Caspian Sea, offering a higher-capacity solution
MENA Outlook: Diversification, AI, and economic integration take centre stage
As the region pivots toward a post-oil future, recent developments across the Middle East and North Africa suggest an accelerating...
Economy
Company News
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Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...
Science
AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
Economy
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Economy
Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.
- Businesses face challenges in cloud migration, including regulatory concerns, legacy systems, and employee resistance, says David Boast
- Poor execution, lack of employee buy-in, and conflicting leadership opinions often lead to digital transformation failures
Economy
US Fed likely to keep rates steady as uncertainty over Trump’s economic policies looms
Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports,...
- The Trump administration has also embarked on unprecedented cost-cutting efforts that target staff and spending, while the president has promised tax reductions and deregulation.
- But Fed Chair Jerome Powell emphasized this month that it is the "net effect" of policy changes that will matter for both the economy and monetary policy.
Interview
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
- in the MEA region, key hubs such as Doha, Dubai, Jeddah, Casablanca, Salalah, Nairobi, Durban, and Tema serve as vital nodes for regional distribution.
- Additionally, hubs like Istanbul, Dubai, and Addis Ababa improve connectivity within this region, said Diallo.